The globalized economy is a colossal Ponzi Scheme in which the vast majority survive on the bread crumbs falling off the table. The possibility of 7 billion people achieving a consumption-oriented lifestyle is zero, so the World Bank conveniently set the poverty line at $1.25/day to legalize global slavery. As long as someone else's children are doing the suffering, it's "all good". Post-2008, this illusion was extended merely by plundering all future generations.

Tuesday, March 5, 2013

The Silence of the Lambs

Yesterday we learned that there are more billionaires than ever - 10x as many as 1987. The gap between the ultra-wealthy and working poor has never been wider in the U.S. The "Atlas-like" CEOs of Ayn Rand lore take home a mere 244 times what the average American makes in a year - by far the biggest CEO pay gap in U.S. history. And today, not coincidentally, the Dow just hit a new all time high, eclipsing its last peak from 2007. All it took was $9 trillion in global Central Bank dopium, and $7 trillion in U.S. debt, to get the market back to a level that it first attained six years ago. As ZH points out, in the meantime a near doubling in the number of people on foodstamps, an 80% increase in the national debt, 5 million fewer jobs, none of which apparently matters when the Dow is at new highs..

Clearly Bernankenstein and Co. have learned that all it takes to fleece the sheeple, is to keep the markets moving higher. It doesn't matter what else is happening, as long as the markets are going up, and the Idiocracy at large has the illusion of retirement, then all of the greed-inspired shenanigans can continue unabated in the background. It's only when markets fall that the Idiocracy rudely awakens from its semi-lucid American Idol coma to take issue with all of the financial chicanery and alchemy that has been going on the entire time in the open, a la 2008. Need I say more about the all-consuming retirement fetish of the political class at this juncture, who are 100% bought in and sold out to history's biggest ponzi scheme, by far...

Here is what $16 trillion of the grandchildren's money buys these days. A round-trip back to 2007. The sheeple are all in again, lining up for another shearing...